This process is risk free to both buyer and reseller as banks stand behind performance.
This reseller uses bank to bank procedures. After SPA signed, reseller's bank sends swift message to buyer's bank that under full bank responsibility the fuel is under contract and reseller is RWA to perform and complete sale to buyer per terms of the SPA.
Buyer's bank responds with swift message that under full bank responsibility buyer is RWA to purchase the fuel and has the funds.
Then reseller sends full POP, fresh SGS and 2% PB. Buyer responds by posting his DLC or SBLC.
Lifts commence.
